SunEdison increases project financing revolver to $150 million

By Lisa Kerner

Charlotte, N.C., Sept. 11 - SunEdison announced it completed a $40 million expansion of its project finance revolving credit facility, bringing the total capacity of the facility to $150 million.

The credit facility is used to support the construction costs of utility and distributed generation solar projects in the United States and Ontario.

According to SunEdison, the construction loans are nonrecourse debt secured only by a pledge of project collateral.

New lender TD Bank Group joined existing partners Deutsche Bank and Portigon. Deutsche Bank acted as mandated lead arranger and bookrunner for the facility, a company news release said.

SunEdison, a subsidiary of MEMC Electronic Materials, Inc., is a solar power systems provider based in Belmont, Calif.

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